Performance management is a integrated process of performance planning, performance appraisal, performance feedback, performance counseling or consolidates goal setting, performance appraisal into a single common system. It also enhances the career growth and development planning. The aim of such a system is to ensure that employee’s performance is supporting the company’s strategic aim. It should be linked with the organizations’ goals and objective. Also, employees need regular feedback and timely appraisal on their performance and specific improvement area on which they con work upon and rectify it. once that improvement area is identified employees can have clear picture of the skill set which they need to acquire to progress in their career. Rewards and recognition are the ways to boost the morale of the employees. It satisfies the fundamental need for praise and reinforce the accurate behaviors, culture, social engagement. Therefore, it is beneficial for retention and engagement. It provides the clarity also because sometimes employees are unsure of what exactly their role entails, what is expected of them, and who they are to report to. Their key area is not clearly defined to them. With the help of performance management company can make all of this very clear

Keywords : Performance Management, Appraisal, Compensation,360-Degree Feedback, Counseling, Development Planning.